Article preview: Working in the regulated financial services sector, we’re always very conscious about our obligations to prevent money laundering from taking place. These legal requirements are why we always identify our clients, obtaining evidence to prove you are who you say you are. We’re also required to confirm the source of any funds used to make investments, with extra checks carried out to identify politically exposed persons and those whose names appear on sanction lists. It was interesting to read about three properties in London being seized by the High Court, who used an Unexplained Wealth Order (UWO) for only the second time since this tool was introduced.
Unexplained wealth leads to property seizure
This 415-word blog post reports on the use of Unexplained Wealth Orders to freeze London property, and how this relates to the anti-money laundering measures followed within Financial Planning firms. Written on 29th May 2019.
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